News: AIO Brookfield Asset Management says Nitro Corp Pty extended offer period for Asciano bid, page-2

  1. zog
    3,382 Posts.
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    Just seen a report that says that they have received legal advice to the affect that if the AIO board changes its recommendation on the bid from Brookfield they will become liable to pay the "break fee". This is a highly onerous condition and if true SH's may consider that the board is being gagged. To me any bidder who seeks to invoke such terms is potentially an owner who will pay similar 'hard ball" with its new shareholders- all the more reason for an all cash offer. It seems that due to the third party management structure of Brookfield that any new units acquired as part of the deal will not have voting rights - seems a bit like the gerrymander current for Rupert Murdoch's News Ltd and all the more reason to favour Qube even thou Corrigan also has a reputation for driving a hard deal; we do however get to vote once (and if) we are SH's in Qube.
 
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